UK To Back 12GW Of Renewables In Next Contracts for Difference Auction

By [email protected] The next round of the U.K.’s contracts for difference (CFD) program will support up to 12 gigawatts of renewable power projects, the government has said.

An increase in the size of the next round was hinted at by Prime Minister Boris Johnson in October. Now it has been put in writing.

The CFD program sees bidders offer power at a set ‘strike price.’ If the wholesale power price dips below this, the government makes up the shortfall. If the wholesale price is higher, the extra revenue is paid back to the authorities. The contracts last 15 years.

The auction splits different technologies into

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